Topic: Naija Novice Hangout {Newbies introduction & Orientation} Thread. - page 28. (Read 1335278 times)

Na one tin wey me no like about our government this restrictions wey dem set now no go affect the law maker but definitely affect their poor citizens wey no get any connections for the country. Like this dem get their ways in and out, how business men and women go do mostly does operating on PoS how would dey managed to run their businesses.
Omo this their policy no too cool with me oo.

Me no like how Igehhh want to begin screen political posts. We sabi say him na APC member and him fit to deh use that opportunity deh cut off posts on APC weh him no like. Me no give a damn about any of the parties. Na personality i deh look. I deh pity anybody weh deh support based on party line because all of them don fail us. But for those weh deh support a sick man to be president of this country wetin una see for the matter weh me no understand, abeg una fit tell us wetin deh?

There is only limit on withdrawal, not on mobile banking transfer or direct payment through a PoS machine, so like i said for my earlier post on this matter, wetin go happen now be say, with this development most businesses (both large, medium and small scale) would start accepting payments through online transfers and would also ensure they have their own personal PoS machines for direct payment, thus even if you no get cash you go still buy wetin you wan buy. You go just use the little cash you are afforded to buy things from small traders (for example, things like tomato and pepper), then when you want to make other more expensive purchases, you basically make a transfer to them, or pay them through their personal payment PoS. This policy no go affect in this way as you talk am.

Having said that, e no mean say i am in support of this new policy as i don already talk put for the matter, you fit check am for here, na there i don explain how this policy go affect Nigerians and how e no really get too much advantage if you check am critically.

Omo dis country na wa oo. All this politicians wey deh try to amend the country like dis well from one view e no bad oo but as merrykeller talk am omo make we check out the disadvantage na 20k a day when you wey be family person wan go market with all other expenses 20k no go do anything for this high cost goods and services in the country.

Omo even to pay some kind things online sef go come become problem for people and i get the move wey dem deh try take but nothing dey eva work perfectly in the country so in due time anoda update on the way to tackle this go come.
Them ban bitcoin but e no stop us to deh still dey trade bitcoin and this update go even worry business men and women wey deh operate POS service well well and most youth sef for this Nigeria na this pos business deh sustain dem.

As CBN wan limit daily and weekly withdraw of peoples funds, make them know forget the high increase of goods and service for the country. At least when person do his or her daily withdrawal of 20k em go do am for em household.

Omo this kind condition no bam at all. To every problem, there's always a strategy to solve am sha. I trust Nigerians. Wey go find ways to beat their 20k and 100k daily and weekly limit.

As CBN don introduce this new law, will it be a continual process? Cos Nigeria government no d do anything like continuity. The next government go fit enter now, come dissolve everything and also appoint his own CBN governor join. I know Naija my country.

Just as you said in the content of your topic, e no too affect crypto trader base on say we dey use to system already. My own concern na for villagers and market women. Most of these traders deposit and withdraw money for their businesses in a weekly market day. Does the CBN really consider those factors before coming up with this new policy? Abi I dey miss anything? Considering the high rate of illiterate in the country especially in the northern Nigeria, how are these people expected to get use to the cashless policy. Abi no more fair play again?

The two things wey I go like talk for this matter be say

1) There is no harm in trying. If we try am and e nor work, we change am, try another thing. We still dey learn all the things wey go make is achieve our goals.

2) If the ratio of  politics discussion to Bitcoin talk plenty, small wahala dey. So I support if Igehhh fit do am make him sieve the conversation.

I believe say very soon we go get our board and we fit create sub boards to yarn other matters but for now, I support anything wey go carry the ministry to the permanent site.

Theymos self na politics and society him dey based, I understand everything wey you talk and e good as arguments like dis dey come out. Unfortunately one or two person no fit decide for all and majority go carry the vote although after we implement any rule wey we vote in and we see say e no work like e dey to decrease the activity for here, is obviously we go dissolve the rule. The idea here be say we dey get many spam of unwanted discussion wey no dey add anything positive to the thread and for now we need quality first for theymos to reason our matta.

When we get our local board, we go get sub boards wey go fit every discussions we want. Me personally self I for like dey discuss music (afrobeat) as na were I get more interest then even the politics but again to avoid low quality discussion I no dey bring am out. When it comes to the filtering out the political posts to determine the winners, I just dey wonder how Igehh go do am. Sha make we dey watch, na trying phase we dey like dis, no worries we go surely get am right one day

Now wey e b say government wan to adopt bitcoin and other cryptocurrency for we naija how far the mata be. i wan to ask question, how about the people  wey dem don already block their account, how about the others wey don don seize their money nko. How about the companies wey them don shot down as a result of cryptocurrency transaction. You see ehn this government just dey confused. The government no balance at all. Election don  wan reach na wey dem feel say dem go do things quick so that dem go gain the support of the masses. e no go work this time around come to talk of it, the youths don wise now be say dem no fit use them again. E good sha as federal government don see am verry   well

Well what i think most businesses are going to do as a result of this devopment is to ensure they have their own PoS machines so customers can pay directly to them with their ATM cards, i know every large scale business definitely has that already, but now even small scale businesses would have to get theirs, because you can no longer expect customers to have sufficient cash to cover what they want to buy.

Only denominations of 200 naira note and below will be loaded in ATM machines once this development takes effect oh (una see that one?), so even if you decide to go withdraw the stipulated 20,000 daily, na for 200 naira denomination or below you go hold am oh. I feel this policy would greatly affect people who run PoS services as they would lack the funds to satisfy their customers, if they decide to use the ATM, they are limited to only 100,000 per week, and if they choose over the counter, they are limited to 100,000 and 500,000 with a fee to process such transactions amounting to 5% and 10% respectively, that is absolutely crazy; i can see quite a lot of people who are into PoS services shutting down from january 9, 2023, and we have many of them in our country, it means many people are soon to be jobless.

Having said that, i do not know what exactly the economic benefit of making cash scarce is, if you ask me that isn't our problem at all, me i believe say our main problem be say we no they produce anything locally, plus this men them wey they thief our oil, if we fit handle production in our country, fix refineries, come they export locally produced goods, plus enjoying the full benefit of the oil wey God bless us with, then i believe say our economy go wake up from sleep. Making cash scarce looks like compounding our problems, especially by making people jobless like i said in the second paragraph of my post.

I read cbn letter 2 two financial institutions and all I can say is wow. I went on the internet to read the opinions of Nigerians and it's been mixed opinions. While some Nigerians have expressed support for this move others have also registered their displeasure. Have weighed both sides of the coin while some say that 20000 naira limit per day it's not good some others of the opinion that this would discourage corruption for example politicians would not be able to give out so much money as they used to do. All I can say for now is as long as it helps the economy as long as it helps the naira as long as it is going to reduce corruption I support this move. In the end we'll all be fine and would adapt so this new reality.

Looking at waiting they happen currently for the world, seen countries like el Salvador and brazil wey don adopt bitcoin na good thing so I feel Nigeria government is already having a kind of interest or I don't even know, but if our government give it a try no be bad thing and deep down them ma know say them no fit stop boys from trading that one they sure , since the citizens done see am as a way of empowering their self, like the popular saying if you cant fight them you join them.

Bros I see say u dey vex about this government but make that no make no reason things well. Banning of something no need that long approval. But this taxation matter no be something on crypto only but other digital assets. Moreover the stuff dey inside Finance bill so he must pass through FEC before president go relate am to House. So make we calm down, even if them Don do bad if them wan put new initiatives now wey go favour we no go mind at least the next president go know where to begin

Congratulations to Agbe, CryptopreneurBrainboss and Marykeller. I also congratulate every person wey their name enter for the list. E good as here dey grow day by day and the whole community dey acknowledge say we dey try.


I just see poll wey dey ontop this our thread. I no just like that poll at all. This one or two rules we wan introduce no go help the growth of this our local board at all. Now wey the spirit don high, na em we wan come dull the spirit? Our page for this thread never even reach common 300pages, our activity still dey low and we wan introduce rule wey go discourage people to post.

We never even get our local board we don already dey discriminate some posts as low quality. We fit no understand wetin wan happen, but I don see am say e no go help us at all. E no compulsory say na bitcoin we go dey talk here.

INFACT, MAKE I CLEAR US, no bitcoin we go talk here wey go make sense pass wetin dey go on for bitcoin board. People wey dey take bitcoin serious for their local board na people wey no dey understand English.  We here dey understand English pass pidgin sef.

If you check well Theymos himself no dey add anything wey go limit anybody. And I suggest say make we no suffocate here with rules.

New CNB 20k daily withdrawal limit

The central bank of Nigeria today announced a new monetary policy ahead of the general adoption of the new naira notes and fading off of the old naira notes, the limit of 20,000 nairas daily was placed on individual bank accounts and 100,000 nairas on cooperate bank accounts. This is inline with the central bank's intent to go digital and cashless, this move will help curb insecurity like kidnapping and terrorism financing as all transactions can be traced through the banks. I say make I bring the matter here make we put mouth check amm how e go be, and how e take affect us as the cryptocurrency community. To me we the cryptocurrency community in 9ja we are already used to digital life and at that, this cashless policies go help improve our privacy by making us to carry less cash even limiting the chances of point of sale private operators (POS). Because pos is also used by scammers to move limitless money around, if all this thing were CBN dey do work well, I think 9ja go make sense for everybody and I hope to see you guys contributions, observations, and criticism on this topic.

Dis a sign that we have a genuine leaders in dis community who can do things right to appreciate the most active in dis forum.  Those people that won d award really deserved it and it will encourage many to show themselves to be proud that they are members of dis community. And it will also make people to be more active in dis community to bring in more detail about Bitcoin and cryptocurrency news

Many people are divided on the issue of tax generally, especially on how the money generated is put to use, i don't have any problem with paying taxes, as long as the government uses the money correctly. Crypto taxes cannot be a way to console Nigerians, nobody likes some part of their money taken away from them, even when it is necessary. Crypto is taxed in the U.S. and in some other countries too, i guess Nigeria is next to impose tax on crypto, we'd see how it pans out.
They are not legalising anything, crypto itself isn't illegal in Nigeria, only be say government don ban banks from running package with crypto exchanges. The Nigerian government do not even have to legalize crypto to impose taxes on it, it is within their jurisdiction to do so without legalising Bitcoin if that be the case.
Welcome brother.

Nigeria government na them be scammers, na e make scam full Nigeria because the government dey promote scam. Them go lie give u so that make u do something wey go benefit dem and at the end wetin dem talk no e them go do. The difference between yahoo boys and them b say,government dey use authority dey scam you,and you no go fit do them anything because nobody fit win government.

If na yahoo boys, na still dem government go, go catch am becos e do wetin dem no go fit do without power, so dem go come envy. Just check out the bodi EFCC na dem be Nigeria legalize criminals. I no go believe everything wey this our government go tell me till I die only if good people come into power because e just be like say dem dey carry people play. All these wey dem dey talk or do now na election saga. Make dem cari their lie lie comot for sit make we see the next person wey go enter jor.

My broda  you see this our country anything wey concern government just know day politics must dey inside am, cos already na wetin dey government dey take live by. Just imagine how them use ASUU head take play politics telling them make them go back to classroom and start teaching say them go pay them all the money in arrears for the 7months sef wey Dem no work go work sake of dey strike. ASUU rush call off strike Las Las government change mouth say na month wey Dem work na Dem go collect salary based on no work no pay clause. People wey no get Masters/phD na com dey use/scam people head wey claim say Dem be Prof with PhD.

If u no fear this our country politicians den I wonder who person go fear again.their mouth na black and white person no fit knw wen Dem dey even talk truth again.

Me just dey laugh una wey still dey carry mind face for Government and dia promises, see like dis my mind don strong and I no too reason government bicus dem be the biggest scammer we get for dis we country so e beta say una remove mind make we join hand put pesin wey go do us wella dan to dey see promise and fail everi 4 years to 8 years.